Századvég Raises 2019 GDP Growth Forecast to 3.9 pc

Economic research company Századvég has raised its forecast for next year’s GDP growth to 3.9 percent from 3.5 percent in a projection released three months earlier.

Pro-government Századvég assumed the government would follow through with the introduction of measures to boost competitiveness, the research company said.

It forecasts a 4.4 percent increase in household consumption, supported by a 10 percent rise in wages, and 9.0 percent investment growth. Exports are set to rise by 5.5 percent while imports climb 5.4 percent.

Századvég raised its projection for this year’s GDP growth to 4.6 percent from 4.4 percent.

Hungary’s GDP was up 4.8 percent year-on-year in Q1-Q3, the latest data from the Central Statistical Office show.